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Food sector takes in Campbell Soup CEO's warning

Aug. 31, 2017 2:21 PM ETCampbell Soup Company (CPB) StockMDLZ, ADM, CPB, CAG, BGS, KHC, APRNBy: Clark Schultz, SA News Editor18 Comments
  • Campbell Soup (CPB -7.3%) CEO Denise Morrison called the packaged foods industry "challenging" as consumers change their preferences and new competition continues to step in.
  • “Several variables are at play including value players expanding their presence in the U.S., the growth of store brands and the explosion of e-commerce and meal delivery services disrupting the market,” according Morrison. "We expect conditions to remain hyper competitive for the foreseeable future," she warns.
  • Kraft Heinz (KHC -1.6%), B&G Foods (BGS -1%), Mondelez International (MDLZ -2.3%), Archer Daniels Midland (ADM -1.6%), Blue Apron (APRN -1.7%) and Conagra Brands (CAG -1%) are all lower as investors eye the frank comments from Campbell's chief.

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